I keep going back to the debate with myself. Do I give my now-young kids 500K in an ETF in 14 years or do I send them to college? And the debate is not about how they will spend it (I can hold on to it too), it’s about whether to spend the money or just pass on the wealth to them. People have given me tons of reasons why college is good for them - independence, etc etc. I can find a way to give them independence without spending 500k. I haven’t settled the debate but articles like this are not helping the college path.
New U.S. college grads now have higher unemployment than the average worker
131–140 of 320 posts
Re: New U.S. college grads now have higher unemployment than the average worker
#132Re: New U.S. college grads now have higher unemployment than the average worker
#133Earlier quoted context omitted.
The absolute wild opposite (for cybersecurity) to this is that higher level individuals are in such insane demand that if you are underpaid even during the current wage suppression, going to over market should be almost completely trivial.
Of course, people actually good at security are rare and in high demand. This is totally aligned with OP’s statement. IMO you shouldn’t even be thinking of going into cybersecurity straight out of college. There’s just too much you have to learn about how software works for it to be a reasonable first job out of university. There will always be exceptional people, of course, but as a general rule I’m not hiring new g…
Cybersecurity seems to be either working to fill out forms to satisfy some requirement of some company/government office, or being akin to an exhacker actually trying to improve security.
Colleges seem to be producing tons of the first, hardly any of the second.
Re: New U.S. college grads now have higher unemployment than the average worker
#134Since 2019, although now the gap is higher than ever (1.4%). College doesn’t prepare you for work as effectively as work, but it also teaches interesting things and prepares for academia (graduate school).
I'd argue the value of college has been steadily declining ever since we tried to push more and more people through it. When it's a filter it's a good signal, when it's a participation trophy far less so.
A bachelor's now is a high school diploma of 70 years ago. It doesn't tell you much and it delays your earning potential four years, and saddles you with debt.
Re: New U.S. college grads now have higher unemployment than the average worker
#135The story here isn't college grads as much as young people in general. We are eating our young. We stopped building new housing, which turns housing into a transfer of wealth from those who don't have it (the young) to those who have been holding it (the not young). We have eliminated entry level positions, saddled college graduates with massive amounts of debt by defunding universities, and created great security fo…
Everywhere I look in my area we are building new housing. But more people keep moving to the desirable locations with jobs etc. EDIT: I live in one of the 10 fastest growing metro areas of the US. In the last 4 years my county added over 60,000 homes but about 130,000 new people moved here. I drive around and see new development after new development. But more people move here because of the good jobs, schools, etc.…
I don't know where you live but if you look at the statistics this is very clearly a regionalized problem in the US. Big coastal cities like SF, NYC, etc are building almost nothing but Texas is cranking out new suburbs by the square mile.
Re: New U.S. college grads now have higher unemployment than the average worker
#136Earlier quoted context omitted.
Isn't basically every decile getting richer (i.e. able to afford more things) thanks to economic growth?
What if I don’t care about affording more things? And instead want to live in an ethical society that prioritizes stability and universal access to housing, healthcare, and education?
i think the reason for your deluge of downvotes is that a society the promotes more things becoming affordable is one that prioritizes stability. universal access to housing, healthcare, and education that people want is only possible in a society that is immensely productive.
Re: New U.S. college grads now have higher unemployment than the average worker
#137Earlier quoted context omitted.
Isn't basically every decile getting richer (i.e. able to afford more things) thanks to economic growth?
No. It's a k-type curve where the high deciles are getting higher and the lows are getting lower, so to speak. There is increasingly becoming more of a divide between haves and have nots, and it has a temporal component because of how equity has appreciated over the last decade or so. Both housing and stocks. People from a decade ago have seen absolutely unsustainable appreciation in their assets while doing nothing.…
> It's a k-type curve where the high deciles are getting higher and the lows are getting lower
The lowest quartile of income have had the highest growth the past four years.
Re: New U.S. college grads now have higher unemployment than the average worker
#138Earlier quoted context omitted.
Everywhere I look in my area we are building new housing. But more people keep moving to the desirable locations with jobs etc. EDIT: I live in one of the 10 fastest growing metro areas of the US. In the last 4 years my county added over 60,000 homes but about 130,000 new people moved here. I drive around and see new development after new development. But more people move here because of the good jobs, schools, etc.…
There's a huge disconnect between perceived amount of building and actual need for housing, in my experience. People are used to seeing nothing, so when even a single building goes up they think it seems like a lot. In my downtown area, there has been a trickle of a new building with a few hundred apartments per year for the past four years, and people are freaked out at that tiny amount of new housing in a city of 5…
In a free market, the builders would just build to demand better because they’re incentivized to
Re: New U.S. college grads now have higher unemployment than the average worker
#139Interestingly (and anecdotally), as a 10-year+ experienced college dropout, I still see challenges getting hired for jobs that list degrees as a requirement. The only time I get a call back on "front door" applications is with the fateful addendum of "OR relevant work experience". (I wonder if agents and their lack of human discretion is amplifying this.) The article's assertion that a college degree still offers an…
If you haven't got a degree on your resume, it just gets autodropped at the application stage by an ATS. No human sees it. Same if you're missing keywords.
Which is why night school for someone in that position can be useful - just to get the keyword "degree" on there.
But the people you meet at night school are likely to be even more useful. Connections rule the world.
Re: New U.S. college grads now have higher unemployment than the average worker
#140Earlier quoted context omitted.
> or the entire industry gets sent offshore. Assuming there are any seniors offshore either
I think the management answer to this is that you can just hire 9 offshore not-seniors for less money, and that somehow equals the experience of a single onshore senior. In that sense it's a kind of the experience equivalent of the 9 women/1month == baby analogy, and obviously wrong. Unless you're in management.
If they think that will work what prevents them from doing it now vs later when the senior are gone?